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Jul 19, 2011
07/11
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CNNW
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what you'd get under the big-ticket scenario is a drawing off the line. that's your $172 billion. the government is out of money if you don't increase the debt ceiling. what gets cut? military pay. wouldn't get their checks under this scenario. veterans checks, irs refund. if you're waiting for one you wouldn't get it. nutrition services, foods stamps, wouldn't get paid. federal salaries, education department, other and you heard him mention for reason aide to the palestinians. you have to make the choices and cut it off right here. that's one way. suppose you decided instead we'll put a priority on the social safety net. under this scenario, interest gets paid, social security gets paid, medicare and medicaid and those nutrition services that got cut off last time, you could pay them. housing grants would go out. veterans affairs, unemployment, education and tuition assistance. but under this set of priorities your line is down here and then you're at or slightly above that $172 billion. you cover most of the social safety net here but defense vendors wouldn't get paid. active du
what you'd get under the big-ticket scenario is a drawing off the line. that's your $172 billion. the government is out of money if you don't increase the debt ceiling. what gets cut? military pay. wouldn't get their checks under this scenario. veterans checks, irs refund. if you're waiting for one you wouldn't get it. nutrition services, foods stamps, wouldn't get paid. federal salaries, education department, other and you heard him mention for reason aide to the palestinians. you have to make...
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Jul 19, 2011
07/11
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>> i think that that is a big if at this point but there are a lot of questions. i think the employees at news corp. media properties are nervous, shareholders are nervous. there are questions about what this means for the future of the company. a lot of questions i am hearing is where is the push stock -- the push back on rupert murdoch? shareholders have said this is like a family business, this is a public business. there needs to be strong vertex in place to make sure whether it is an independent board of directors, someone comes in and challenges rupert murdoch on some of these issues going forward. -- there needs to be some strong checks in place. i think that investors want to see that. >> thank you for joining us. president obama said that negotiations over the debt ceiling have reached the 11th hour. in a statement, he praised a new proposal that would cut 4 trillion dollars in the debt over 10 years through a mix of tax increases and spending cuts. israeli forces have stopped a french-flagged boat going toward the gaza strip in an attempt to break the bl
>> i think that that is a big if at this point but there are a lot of questions. i think the employees at news corp. media properties are nervous, shareholders are nervous. there are questions about what this means for the future of the company. a lot of questions i am hearing is where is the push stock -- the push back on rupert murdoch? shareholders have said this is like a family business, this is a public business. there needs to be strong vertex in place to make sure whether it is an...
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Jul 19, 2011
07/11
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. $1.3 trillion economy is a big market for the utah and there lots of talk about investment opportunities during mrs. clinton's visit. >> you're watching "newsday." still to come on the program, the aid agency that had controversy by handing out less aid in uganda. >> and murdoch and sons prepare to answer questions about phone hacking corruption. we assess the future of news corp. south africans have celebrated former president's nelson mandela 93rd birthday. he spent the day with family in his home village where he was also visited by the president. millions of school children sang him a special birthday song before lessons began. >> smiling and surrounded by family members, these photos show mandiba as he is affectionately called with his family, three generations of them. the elderly statesman celebrated on monday with a party of school children at his home in his childhood village. [happy birthday to you ♪ >> across the country, school children sang a special version of the birthday song, happy birthday dada, mandiba. two years ago it was mandela day. and his wife and his daughter
. $1.3 trillion economy is a big market for the utah and there lots of talk about investment opportunities during mrs. clinton's visit. >> you're watching "newsday." still to come on the program, the aid agency that had controversy by handing out less aid in uganda. >> and murdoch and sons prepare to answer questions about phone hacking corruption. we assess the future of news corp. south africans have celebrated former president's nelson mandela 93rd birthday. he spent...
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Jul 19, 2011
07/11
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CSPAN
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anda raw deal in a big way. -- a raw deal in a big way. with that i reserve. the speaker pro tempore: the gentleman reserves the balance of his time. the gentleman from ohio. mr. jordan: yield one minute to dr. fleming. the speaker pro tempore: the gentleman from louisiana. mr. fleming: thank you. mr. speaker, but for the president of the united states who serves today and a democrat-controlled congress over the last two years we wouldn't be here today debating this. $3.8 trillion added to our debt and continuing on that same glide path. mr. speaker, we're here today because people across america, businesses, cities, states, all have to balance their budgets. the only game in this country, the only entity that doesn't have to balance its budget is the federal government. and that's what's ruining our economy. so all we're asking for in this bill is simply to immediately cut $111 billion in fiscal 2012, begin capping our spending rates, bringing it down to what's traditional, 18%, and then finally passing a balanced budget amendment that will finally put the re
anda raw deal in a big way. -- a raw deal in a big way. with that i reserve. the speaker pro tempore: the gentleman reserves the balance of his time. the gentleman from ohio. mr. jordan: yield one minute to dr. fleming. the speaker pro tempore: the gentleman from louisiana. mr. fleming: thank you. mr. speaker, but for the president of the united states who serves today and a democrat-controlled congress over the last two years we wouldn't be here today debating this. $3.8 trillion added to our...
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Jul 19, 2011
07/11
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. >> letters go to the next big thing. let's shoot to send somebody to mars. >> till the u.s. does design and build a new vehicle the u.s. will pay russia to carry astronauts. nasa is in talks about using commercial rock toots play to the international space station. >>> coming up in 90 seconds. students are paying more money while administrators are making more money. >>> and first there was this youtube video, the moments after police shot and killed a parolee from seattle, now police have their own tape of what happened. her diary. when you're done, i'd love some feedback. sure. your mom and i read that thing cover-to-cover. loved it. thanks. would you mind if i cut the lawn this weekend? only if you let me talk to your mother on the phone for hours on end. done. [ male announcer ] u-verse brings peace to the family. at&t u-verse lets you record four shows at once from any room and play them back on any tv. get u-verse tv for only $29 a month for 6 months. in the network, everyone can get along. get u-verse tv for only $29 a month for 6 months. hey parents, it's going to be
. >> letters go to the next big thing. let's shoot to send somebody to mars. >> till the u.s. does design and build a new vehicle the u.s. will pay russia to carry astronauts. nasa is in talks about using commercial rock toots play to the international space station. >>> coming up in 90 seconds. students are paying more money while administrators are making more money. >>> and first there was this youtube video, the moments after police shot and killed a parolee...
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Jul 19, 2011
07/11
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CSPAN
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this is a big deal. the idea that because it is a short bill, it is no big deal, which cannot follow regular process. that is not the weight -- the right way to go. >> thank you, mr. mcgovern. miss foxx, if you read the bill, that only applies the fiscal year 2012. it sets of budget targets for 10 years. the only way that cap applies is the first year. the remaining years continually ratcheted down. it is in the section related to the cut, ok? it goes cut, and then capped, rigging of thee id constitution, that is what it does. so if you look at the constitution, i would urge the american people not just to read this. but read it in connection to the constitutional provision that they are proposed, which jerry rigs the constitution of the united states in a way that favors by definition cussed the things like medicare over closing corporate loopholes. it requires two-thirds to eliminate the corporate tax loophole for the purpose of that is a reduction. you're going to put that into the constitution of the
this is a big deal. the idea that because it is a short bill, it is no big deal, which cannot follow regular process. that is not the weight -- the right way to go. >> thank you, mr. mcgovern. miss foxx, if you read the bill, that only applies the fiscal year 2012. it sets of budget targets for 10 years. the only way that cap applies is the first year. the remaining years continually ratcheted down. it is in the section related to the cut, ok? it goes cut, and then capped, rigging of thee...
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Jul 19, 2011
07/11
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this is a big deal. the idea that because it is a short bill, it is no big deal, we should not follow regular process here, that is not the right way to go. >> thank you, mr. mcgovern. miss foxx, if you read the bill, that only applies to fiscal year 2012. it sets up budget targets for 10 years. the only way that cap applies is the first year. the remaining years continually ratchet it down. it is in the section related to the cut, ok? it goes cut, and then cap, and then supposed rigging of the constitution, that is what it does. so if you look at the constitution, i would urge the american people not just to read this. but read it in connection to the constitutional provision that they are proposed, which jerry rigs the constitution of the united states in a way that favors by definition cuts to things like medicare over closing corporate loopholes. it requires two-thirds to eliminate a corporate tax loophole for the purpose of deficit reduction. you're going to put that into the constitution of the uni
this is a big deal. the idea that because it is a short bill, it is no big deal, we should not follow regular process here, that is not the right way to go. >> thank you, mr. mcgovern. miss foxx, if you read the bill, that only applies to fiscal year 2012. it sets up budget targets for 10 years. the only way that cap applies is the first year. the remaining years continually ratchet it down. it is in the section related to the cut, ok? it goes cut, and then cap, and then supposed rigging...
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Jul 19, 2011
07/11
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CSPAN2
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within three years we had repealed that big luxury tax. we weren't hitting millionaires and billionaires. we were hitting the people who actually made the yachts. priet after 9/11, congress pass -- right after 9/11, congress passed an accelerated depreciation provision for the commercial aviation -- or the general aviation industry. the idea there was to make sure that 9/11 didn't hit that industry too hard and jobs would be saved. in the president's stimulus bill, that accelerated depreciation provision for commercial jets -- or business jets, rather, was reauthorized. that's the thing we're talking about here when we talk about business jets. the president has said business jets shouldn't receive that kind of tax treatment. well, the people who he said would be benefited by the stimulus package with jobs created or jobs saved are the people who will lose their jobs if that particular tax treatment is taken away. now, maybe we should look at that. i'm not against looking at that tax treatment. if we should look at it and decide it's not a
within three years we had repealed that big luxury tax. we weren't hitting millionaires and billionaires. we were hitting the people who actually made the yachts. priet after 9/11, congress pass -- right after 9/11, congress passed an accelerated depreciation provision for the commercial aviation -- or the general aviation industry. the idea there was to make sure that 9/11 didn't hit that industry too hard and jobs would be saved. in the president's stimulus bill, that accelerated depreciation...
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Jul 19, 2011
07/11
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rogers: we're urging the president to do something big, he says he wants to do something big about our debt problem, this is the solution. we urge him to work with us and not demand new taxes. and once he'll do that we can turn to some meaningful things that will help improve the job situation which by the way is at 9.% unemployment and going the wrong direction. we can do some things like getting the regulators off our community banks so small businesses can have access to capital. shrinking the size of e.p.a. and osha and nlrb who are bloated in their infrastructure and just stifling jobs in america. we have a lot of things we can do but first we have to get our spending under control. i urge my colleagues to vote for cut, cap and balance. the speaker pro tempore: the gentleman's time has expired. for what purpose does the gentleman from texas seek recognition? >> request permission to address the house for one minute, mr. speaker. revise and extend my remarks. the speaker pro tempore: without objection, the gentleman from texas is recognized for one minute. >> mr. speaker, i rise in
rogers: we're urging the president to do something big, he says he wants to do something big about our debt problem, this is the solution. we urge him to work with us and not demand new taxes. and once he'll do that we can turn to some meaningful things that will help improve the job situation which by the way is at 9.% unemployment and going the wrong direction. we can do some things like getting the regulators off our community banks so small businesses can have access to capital. shrinking...
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Jul 19, 2011
07/11
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MSNBCW
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that's a big problem. but it is not the number one issue for the public. >> sam, let me ask you about this meeting with cantor and boehner in the white house secretly sunday. it suggests to me thatch you realize, look, the tea party ain't going to be a big deal. he's not going to sign any constitutional amendment that's not going to get through. is the president now working with boehner and cantor on a postconstitutional amendment deal if you will for smaller cuts and the debt ceiling raise? bah it seems to me, the house is the problem. >> yeah. and i think it will play out according to my reporting as this -- they have the mcconnell plan, which is raising the debt ceiling while vetoing cuttings. as a way to buy into it, they have the republican caucus attract $1.5 trillion in cuts agreed to. so you end up having two pack e packages merge to one, house republicans can say they cut $1.5 trillion in discretionary spending. but no entitlements of the long-term growth of the deficit and debt is still a problem
that's a big problem. but it is not the number one issue for the public. >> sam, let me ask you about this meeting with cantor and boehner in the white house secretly sunday. it suggests to me thatch you realize, look, the tea party ain't going to be a big deal. he's not going to sign any constitutional amendment that's not going to get through. is the president now working with boehner and cantor on a postconstitutional amendment deal if you will for smaller cuts and the debt ceiling...
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Jul 19, 2011
07/11
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is that too big, mr. president? what is unrealistic is to assume that we can spend at the levels that president obama and congressional democrats have done over the past few years, amass trillion-dollar annual deficits and still have a vibrant economy. now that's unrealistic. putting america's fiscal house in order is not only realistic and achievable, it's imperative. it's imperative in order to get our economy moving again and creating jobs. this bill is a positive solution, a commonsense solution, an honest solution and a bold solution. i encourage my colleagues to support this bill and begin to travel on a path to prosperity. and i yield back. the speaker pro tempore: the gentleman's time has expired. the gentleman from maryland. mr. van hollen: thank you, madam speaker. i just want to make a couple points in response to statements that have been raised. not only would this write in the constitution a 2/3 requirement for getting rid of special interest tax breaks for the purposes of deficit reduction, it would m
is that too big, mr. president? what is unrealistic is to assume that we can spend at the levels that president obama and congressional democrats have done over the past few years, amass trillion-dollar annual deficits and still have a vibrant economy. now that's unrealistic. putting america's fiscal house in order is not only realistic and achievable, it's imperative. it's imperative in order to get our economy moving again and creating jobs. this bill is a positive solution, a commonsense...